| IDEA Cellular Limited Related news |
Idea Cellular hits 52-week low; stock falls 35% in 2018
Posted on 19th April 2018 |
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Idea Cellular hit a 52-week low of Rs 70, down 2% on the BSE, on concerns of delay in merger between the company and Vodafone India. The stock of telecom services provider trading at its lowest level since January 20, 2017, has fallen 35% thus far in the current calendar year 2018. On comparison, the S&P BSE Sensex was up 1% during the period. |
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Aditya Birla Group in talks to raise $1 bn for Idea Cellular
Posted on 17th April 2018 |
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Mumbai: The Aditya Birla Group is in talks with buyout firms to sell stakes in promoter entities that control Idea Cellular Ltd to raise more than $1 billion, part of which will be used to pay down regulatory dues of the telecom operator ahead of a merger with Vodafone India Ltd, two people directly aware of the development said. |
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Vodafone-Idea merger: Combined entity may lead to layover of 5,000 employees, claims report
Posted on 16th April 2018 |
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The combined entity of Vodafone-Idea merger may lead to a massive layoffs. According to an Economic Times report, the ongoing merger process of Vodafone India and Idea Cellular could see about a fourth of the telcos’ combined 21,000-strong workforce lose jobs in the next few months as the companies look to save on costs, eliminate duplication and improve efficiency. |
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ATC completes Rs 3,800-cr mobile tower deal with Vodafone India; Idea pact expected by May
Posted on 3rd April 2018 |
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Telecom infrastructure firm American Tower Corporation (ATC) today announced that it has completed mobile tower purchase deal worth Rs 3,800 crore with Vodafone India through its Indian arm. ATC Telecom Infrastructure, a majority owned Indian subsidiary of ATC, has completed the transaction. This is a previously announced acquisition of Vodafone India’s telecom site business, which consists of approximately 10,200 communications sites, for a total cash consideration of about Rs 38 billion, ATC said in a statement. |
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Vodafone, Idea may take legal action against Aircel to recover dues
Posted on 31st March 2018 |
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Vodafone India and Idea Cellular are likely to take legal action against Aircel in the next few days to recover their dues, according to people aware of the matter, which will make the duo the first major telecom operators to take such a step against the debt-laden carrier. Aircel, owned by Malaysia’s Maxis, owes about Rs 60 crore to Idea Cellular including interconnect usage charges (IUC), and a similar estimated amount to Vodafone India, said one of the persons, who did not wish to be identified. |
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Rs 1,200 billion debt to weigh on Vodafone-Idea, may hit growth plans
Posted on 27th March 2018 |
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With a debt of Rs 1,200 billion, Vodafone and Idea will have to work harder together to turn profitable as the consolidating mobile telephony market in the country changes rapidly. When the merger is completed, Vodafone-Idea would have the largest subscriber base, about 400 million. But it will also be the most indebted telecom company. |
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Vodafone-Idea merger: Balesh Sharma to helm affairs as CEO
Posted on 23rd March 2018 |
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Vodafone and Aditya Birla Group’s Idea Cellular, which are in the final stages of completing the merger of their operations in the country, on Thursday announced the new leadership team of the merged entity. As indicated earlier, Kumar Mangalam Birla, the chairman of the AV Birla Group, will be the non-executive chairman of the merged entity. |
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Decision on spectrum, payment norms to benefit Idea-Voda merged entity the most
Posted on 9th March 2018 |
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The government’s decision to extend the deferred spectrum liability payment period to 16 years from the current 10 will benefit the merged company of Idea Cellular and Vodafone India the most, with the installment amount declining by around 30% annually. However, since the net current value would remain intact, the benefit is only in terms of cash flow as the amount due in initial years would be less, but increase towards the later years. |
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Airtel, Idea move telecom tribunal against predatory pricing order
Posted on 5th March 2018 |
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NEW DELHI:Bharti Airtel and Idea Cellular have challenged the telecom regulator’s recent tariff order on predatory pricing in the telecom tribunal, setting the stage for another legal battle between India's older carriers and the sectoral watchdog who have been at loggerheads for more than a year now. India's first and third ranked telcos have argued that the February 16 order was unconstitutional as it prevented them from retaining customers and conducting business, people familiar with the matter told ET. |
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Idea-Vodafone building war chest to take on rivals
Posted on 26th February 2018 |
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Idea Cellular Ltd and Vodafone Group Plc’s Indian unit, which are set to merge to create India’s largest telecom operator, will invest Rs60,000 crore in infrastructure to meet surging demand for data, according to a person aware of the matter. The companies expect demand to surge sixfold to more than 120 petabytes a day in the near term from around 20 petabytes now, this person said, requesting anonymity. |
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